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CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines. -
As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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Investigators are homing in on the likely causes of the incidents.
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The number of structures damaged may put the event on par with the fires of 2017 and 2018.
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Many are confident the regulatory changes will still stabilize the market in the near-term.
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Sources are saying 2025 could be as expensive for wildfires as the $20bn loss years of 2017 and 2018.
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Total economic and insured losses are “virtually certain” to reach into the billions.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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'Mo’ Tooker will add personal lines to his current position overseeing SME and distribution.
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America’s longest-serving insurance commissioner was one of the first regulators to focus on climate.
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Six fires now cover more than 27,000 acres across Southern California.
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He succeeds Wayne Peacock, who retires this year after four years of service.
